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2025-01-25
NEW YORK (AP) — Bitcoin extended its streak of record highs after ticking above $99,000 for the first time. The cryptocurrency has rocketed more than 40% in just two weeks. Now, bitcoin is at the doorstep of $100,000, just two years after dropping below $17,000 following the collapse of crypto exchange FTX. The dramatic rally rolls on as industry players expect the incoming Trump administration to bring a more “crypto-friendly” approach toward regulating the digital currency. Bitcoin was trading at $99,526 Friday afternoon, according to CoinDesk. As with everything in the volatile crypto markets, the future is impossible to know. And while some are bullish, other experts continue to warn of investment risks. Here’s what you need to know. Back up. What is cryptocurrency again? Cryptocurrency has been around for a while now. But, chances are, you’ve heard about it more and more over the last few years. In basic terms, cryptocurrency is digital money. This kind of currency is designed to work through an online network without a central authority — meaning it’s typically not backed by any government or banking institution — and transactions get recorded with technology called a blockchain. Bitcoin is the largest and oldest cryptocurrency, although other assets like ethereum, tether and dogecoin have also gained popularity over the years. Some investors see cryptocurrency as a “digital alternative” to traditional money, but the large majority of daily financial transactions are still conducted using fiat currencies such as the dollar. Also, bitcoin can be very volatile, with its price reliant on larger market conditions. Why is bitcoin soaring? A lot of the recent action has to do with the outcome of the U.S. presidential election. Crypto industry players have welcomed Trump’s victory, in hopes that he would be able to push through legislative and regulatory changes that they’ve long lobbied for — which, generally speaking, aim for an increased sense of legitimacy without too much red tape. Trump, who was once a crypto skeptic, recently pledged to make the U.S. “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. His campaign accepted donations in cryptocurrency and he courted fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies. How of this will actually pan out — and whether or not Trump will successfully act quickly on these promises — has yet to be seen. “This is not necessarily a short-term story, it’s likely a much longer-term story,” Citi macro strategist David Glass told The Associated Press last week. “And there is the question of how quickly can U.S. crypto policy make a serious impact on (wider adoption).” One step Trump must take in the short-term is name a new head of the Securities and Exchange Commission, which shares oversight of cryptocurrencies. Gary Gensler, current chair of the SEC, has led the U.S. government’s crackdown on crypto over recent years, penalizing a number of companies for violating securities laws. But he’s also faced criticism from industry players in the process, like the chief legal officer of Robinhood, who described Gensler’s approach toward crypto as “rigid” and “hostile.” Gensler will step down in January when Trump takes office. Adam Morgan McCarthy, a research analyst at Kaiko, thinks the industry is craving “just some sort of clarity.” Much of the approach to regulating crypto in the past has been “enforcement based,” he notes, which has been helpful in weeding out some bad actors — but legislation might fill in other key gaps. Despite crypto’s recent excitement around Trump, McCarthy said that 2024 has already been a “hugely consequential year for regulation in the U.S.” — pointing to January’s approval of spot bitcoin ETFs, for example, which mark a new way to invest in the asset. Spot ETFs have been the dominant driver of bitcoin for some time now — but, like much of the crypto’s recent momentum, saw record inflows postelection. According to Kaiko, bitcoin ETFs recorded $6 billion in trade volume for the week of the election alone. In April, bitcoin also saw its fourth “halving” — a preprogrammed event that impacts production by cutting the reward for mining, or the creation of new bitcoin, in half. In theory, if demand remains strong, some analysts say this “supply shock” can also help propel the price long term. Others note it may be too early to tell. What are the risks? History shows you can lose money in crypto as quickly as you’ve made it. Long-term price behavior relies on larger market conditions. Trading continues at all hours, every day. At the start of the COVID-19 pandemic, bitcoin stood at just over $5,000. Its price climbed to nearly $69,000 by November 2021, during high demand for technology assets, but later crashed during an aggressive series of Federal Reserve rate hikes. And the late-2022 collapse of FTX significantly undermined confidence in crypto overall, with bitcoin falling below $17,000. Investors began returning in large numbers as inflation started to cool — and gains skyrocketed on the anticipation and then early success of spot ETFs. But experts still stress caution, especially for small-pocketed investors. And lighter regulation from the coming Trump administration could mean less guardrails. “I would say, keep it simple. And don’t take on more risk than you can afford to,” McCarthy said — adding that there isn’t a “magic eight ball” to know for certain what comes next. What about the climate impact? Assets like bitcoin are produced through a process called “mining,” which consumes a lot of energy. Operations relying on pollutive sources have drawn particular concern over the years. Recent research published by the United Nations University and Earth’s Future journal found that the carbon footprint of 2020-2021 bitcoin mining across 76 nations was equivalent to the emissions from burning 84 billion pounds of coal or running 190 natural gas-fired power plants. Coal satisfied the bulk of bitcoin’s electricity demands (45%), followed by natural gas (21%) and hydropower (16%). Environmental impacts of bitcoin mining boil largely down to the energy source used. Industry analysts have maintained that clean energy has increased in use in recent years, coinciding with rising calls for climate protectionsATLANTA (AP) — Even when grappling with a four-game losing streak and the uncertainty generated by quarterback eight interceptions and no touchdown passes in that span, there is some solace for the Atlanta Falcons. They play in the NFC South. There is more good news: The Falcons' next two opponents, the Las Vegas Raiders and New York Giants, are tied for the NFL's worst record at 2-11. Coach Raheem Morris says he is sticking with Cousins for next Monday night's game at Las Vegas. Sunday's at Minnesota dropped Atlanta to 6-7, one game behind Tampa Bay in the NFC South. The Falcons hold the tiebreaker advantage over the Buccaneers, so if they can take advantage of their cushy closing stretch of games that also includes Washington and Carolina, they could salvage their season. “We’re right in this thing,” right guard Chris Lindstrom said Monday before acknowledging he is “obviously not happy or satisfied with where we’re at." Lindstrom said he maintains "the ultimate belief in what we’re doing and everything that we have going on and everything is still in front of us.” Cousins and the Falcons must solve their red-zone woes to maintain hopes of the team's first playoff appearance since 2017. The Falcons rank eighth in the NFL with 371 yards per game but only 19th with their average of 21.4 points thanks to their persistent problems inside the 20. Even the forgiving NFC South can't make up for the scoring problems caused by penalties, turnovers and other persistent breakdowns. “You can't live with it at all,” Morris said Monday when asked about Cousins' recent streak of interceptions. Even so, Cousins remains the starter as awaits his opportunity. “It’s for sure Kirk is our quarterback but I have no hesitations about what our young man has been doing and how he has been preparing and the things he is ready to do,” Morris said. “So if that time ever came I would have a lot of confidence in what Mike is able to do, but Kirk is our quarterback. Kirk is the guy who is going to lead us.” With four sacks against the Vikings, the Falcons may have finally solved their longtime pass-rush woes. Atlanta had five sacks in a to the Los Angeles Chargers on Dec. 1, giving the team back-to-back games with at least four sacks for the first time since 2019. Outside linebacker Arnold Ebiketie had one of Sunday's sacks, giving him four for the season. With nine sacks in the last two games, the Falcons have almost doubled their NFL-low total of 10 through their first 11 games. Even as the pass rush was productive, the Falcons' defense showed a sudden inability to prevent big plays through the air. Atlanta allowed four completions of more than 40 yards as Vikings receivers Jordan Addison and Justin Jefferson combined to catch five scoring passes from Sam Darnold, who did not throw an interception. Morris said the Vikings' strategy was to avoid cornerback A.J. Terrell, “making other people make plays, and we didn’t go out there and make them.” Running back Tyler Allgeier had nine carries for 63 yards and a touchdown. Even while Bijan Robinson continued to produce with 22 carries for 92 yards and a score, Allgeier re-emerged as a strong complement with his second-highest rushing total of the season. Cousins has an unhealthy ratio of 17 touchdown passes to 15 interceptions. “Kirk was the guy who led us to the 6-3 record,” Morris said. “We’ve got to find a way to get out of the funk. ... For us, it’s going to be his opportunity to go out and right the ship and he has earned it.” 142: Wide receiver Darnell Mooney set a career high with 142 yards on six catches. It was the third game this season Mooney has led the Falcons in receiving yards. Former Atlanta quarterback Desmond Ridder is expected to start for the Raiders on Monday night after Aidan O’Connell's knee injury in Sunday's at Tampa Bay. AP NFL:lol646 casino

The Vancouver Police Board says its vice-chair has resigned following statements she posted to social media that were inconsistent with its code of conduct. Screenshots of the Instagram posts made by Comfort Sakoma-Fadugba were shared on the online discussion website Reddit, where they drew criticism from users for their commentary on immigration and religion. Speaking with CBC News Friday, Sakoma-Fadugba apologized for the content of her posts, but said the screenshots were missing context from her original posts. She said she resigned from the board for personal reasons. CBC News has not independently verified the social media posts, as both they and the Instagram account they were posted on have since been removed. Comfort Sakoma-Fadugba is seen on the far right in this set of portraits of police board members from January 2023. (Ben Nelms/CBC) Of the screenshots shared to Reddit, one post discusses how "mass immigration" and "a growing aversion to assimilation" are "transforming Canada into a place where a shared identity is disappearing." Another post questions Diwali celebrations at schools, saying the "push for secular education isn't about religion — it's about erasing Christian values from the lives of our children." Vancouver Police Board member resigns after vote to reconsider school liaison officer program cancelled Vancouver Police Board member resigns, cites conflicts of interest, political interference A third post references "gender transitions" while criticizing a "woke culture that pits children against their parents." Another claims Christian values serve as Canada's moral compass and questions what would happen to the country if a different religion became more dominant. 'Genuinely sorry' Sakoma-Fadugba told CBC News the screenshots posted to Reddit were taken out of context and do not "capture the entirety of the conversation that was being had." "I'm genuinely sorry that it has caused so much harm," she said. "That was not my intent." Comfort Sakoma-Fadugba is seen in this portrait, formerly posted on the Vancouver Police Board website. (Vancouver Police Board) Sakoma-Fadugba said she immigrated to Canada from Nigeria as a young child. She said she joined the police board in 2021 amid the Black Lives Matter movement and the COVID-19 pandemic. One of her goals, she said, was to serve as a bridge between Black and South Asian communities. Pro-Palestinian protesters allege excessive force and surveillance by Vancouver police Black community advisory group cuts ties with Vancouver police She added that she has a deep respect for Hinduism, and said learning about the religion has strengthened her Christian faith. "What I was trying to express was the fact that I would really love to see a lot more unity around Canada," she said. "And I think, obviously, I sadly did not get to communicate that as well as I would have wanted to." Comments offensive: Tory MLA In a statement issued Friday, Vancouver Police Board chair Frank Chong said recent statements posted to social media by Sakoma-Fadugba "do not reflect the values of the board and are inconsistent with our code of conduct." The Vancouver Police Board governance manual has a section in which the board says one of its guiding values is to do work in a manner that recognizes and values diversity. "Internally, we create an environment that is free of discrimination, we respect diversity, create equitable systems and processes, and build an inclusive workplace culture," the manual reads. Garry Begg, B.C.'s solicitor general, said the comments attributed to Sakoma-Fadugba 'spread hate and division amongst communities.' (Mike McArthur/CBC) Garry Begg, B.C.'s solicitor general and minister of public safety, said in a statement that the comments "spread hate and division amongst communities and they will not be tolerated." Vancouver Mayor Ken Sim said the views shared by Sakoma-Fadugba don't reflect his beliefs nor the policies of the City of Vancouver or police board. "As public leaders, it's our responsibility to bring people together and focus on what unites us, not what divides us," Sim said in a statement. B.C. Conservative MLA Elenore Sturko, who was a longtime RCMP officer, called the comments offensive. (Ben Nelms/CBC) Elenore Sturko, the B.C. Conservative MLA for South Surrey and a former RCMP officer, said she thought it was appropriate for the board to accept Sakoma-Fadugba's resignation, adding that her comments were offensive, particularly to the transgender community. "It comes down to trust," Sturko said. "When we have statements being made that erode the public's trust, or their comfort with their police service, it makes it that much harder on the frontline officers."

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What spurs the capitalist economy? It is pure and simple greed. Or is it? The years between 1870 and 1900 in the U.S.A, for instance, were called the Gilded Age. Disparities between the rich and the poor grew exponentially in the period. However, new millionaires built extravagant abodes called the Newport mansions, and there were so many folk out there looking for jobs through political patronage. Those who supported the right side, got them. We could call what’s immediately past us, our own Gilded Age. We could also call it the age of unbridled excess. The nouveau riche flaunted their wealth, and most of them became wealthy through gaming of the system to their advantage. But the paradox of capitalism always has been that it is greed that to a great extent propels it forward. The rich are greedy, not because they want to feed their children. The grasping rich, want to flaunt their wealth, drive those monstrous Land Cruisers and buy those vanity number plates. They want mansions in foreign capitals, and insist on putting on a televised show even when they dole out for charity. The bottom line then is that, try as the Church and the Temple might, it is impossible to separate capitalism from greed. Greed is always present, but it sometimes grows exponentially and heightens the disparities between the rich and the poor to unimaginably toxic levels. That’s the type of greed that brought people on to the streets in this country in what was called the Aragalaya. 2022 was the culmination of years of unbridled greed in the form of a blowback against capitalist avarice and a political system that enabled it. DESIST In modern jargon, unbridled greed is sometimes known as neo-liberalism. However, though certainly most of the previous Governments kept to the neo-liberal dogma in the recent past, the greed was of a more personal nature. As stated, those who plundered, certainly didn’t do so to feed the children. They did so to show off conspicuous consumption. In society as a whole, this greed seemed to be duplicated on the part of the entrepreneur class, petty officialdom and the professional classes. If greed pervades all aspects of society, why should it be said that this greed was “neo-liberal greed?” There was no doubt that capitalism and more capitalism drove greed. We were one of the first countries to liberalise the economy in the 70s, but the greed that was conspicuously visible in society in the past two decades was glaring. It was our own Gilded Age with bling, and millionaire-owned bungalows, except that they were not in Newport. The Economist, in a recent article states that Sri Lanka, once a free market pioneer is now taking a leap to the left. The Economist editorial board ought to be advised to desist from jumping into conclusions. That the new dispensation promises to eradicate corruption and usher in a new dawn accompanied with systemic change, does not necessarily mean that there is a leap to the Left. The Government has by all accounts pledged not to interfere with free-market economics, and is committed to helping businessmen and young entrepreneurs. By any yardstick, this does not seem to signify any type of ‘leap to the left.” If a capitalist economy continues under this new dispensation, would the propellant of that capitalism be greed? This article began with the premise that all capitalism is propelled through greed. In and of itself, that statement should not necessarily be negative. Greed is part of the human condition, and it is humbling but true that greed per se is tolerable, but that excessive greed is abhorrent. In the past few decades, greed was contagious. Greed also became a trend, a societal tendency, a fad even. Ostentatious, conspicuous consumption by politicians seemed not only to be tolerated, it seemed at least in some ways, to be encouraged and applauded. But greed was grating, and no longer a fad when the ordinary folk had to forego essentials after the economy collapsed, and inflation went through the roof. By that time it was clear that greed had a human toll, and that conspicuous consumption came at a cost to society, even though it had come to a point at which everybody was aspiring for the SUV that the politician had acquired — after not having worked for it. So, greed can be seen as essentially tolerated under capitalism but frowned upon when it is a societal menace and not a systemic quirk or even a systemic imperative. It is not wise for any regime to attempt to extinguish the essential character of a capitalist society, if the regime wants economic growth and prosperity. It hasn’t happened in China. Though China is run by the Communist Party, it is now a capitalist country with all of the trappings of wealth and wretched excess being part of that equation. The wealthy in China certainly flaunt their wealth, even though the Government is tough on corruption. But corruption and displays of conspicuous consumption are two very different things. Many middle-class Chinese who suddenly acquire wealth feel the need to go drag racing in Ferraris or to use IPhones encased in gold. Chinese actors have been known to flaunt mind-boggling wealth including Rolex and Patek Phillippe watch collections that would be the envy of Hollywood actors. consumption Conspicuous consumption became such a social media trend that the Chinese authorities have now taken steps to ban displays of obscene wealth on social media accounts, with some social media profiles that have been known for flaunting wealth in an obscene manner, being taken down by the authorities. But the reader gets the picture. The country may be run by a Communist Party, but in China, capitalism is the norm as the stupendous economic growth achieved in the country is owed to capitalist entrepreneurship. Those who wrote The Economist opinion piece on Sri Lanka should have known that though the NPP has a Marxist background so-called, the party would not be stifling growth by curtailing the market economy and the culture of capitalist entrepreneurship. That was obvious from the time the party campaigned, meeting business leaders, and courting their support for the effort to win elections. Of course, the reality is that capitalism is driven by a certain level of greed on the part of the entrepreneur classes. Profit-motive it is, but mostly the profit-motive is driven by a desire to earn more than others, with conspicuous consumption almost always factored in. Some would call it greed, plain and simple. If greed is part of capitalism, and the free-market dynamic, so be it. Greed should prevail as long as it is not corrupt, and as long as it is not unconscionable and excessive greed. It’s not so much that greed should prevail than the fact that greed does prevail. It’s greed that drives entrepreneurial innovation, and then, when people start acting on their impulses, that develops into full blown business enterprises which provide the jobs and keep the economy ticking. It’s another one of those great paradoxes of life. Given that life is replete with paradoxes and this is one of them, suffice to say, short of saying let there be greed, let’s acknowledge there is greed. What’s reprehensible is when this greed knows no bounds, and when the next person is forgotten for the sake of unbridled greed. But, if China hasn’t reverted back to Communism in practice, there is no case for any other country to do so. Each country would have its own limits or boundaries within the Capitalist system, but essentially it all boils down to the same. Greed drives economies, and to some extent entrepreneurial greed is seen as the lubricant that moves the economy, as long as corruption is kept in check, and there is no exploitation of the working class.How Band Aid’s stars cancelled Do They Know It’s Christmas?Saturday Links: San Francisco Secretly a 'Pinball Mecca'Baltimore Ravens quarterback Lamar Jackson kept the overall lead in fan voting numbers revealed Monday for the NFL Pro Bowl Games with Philadelphia running back Saquon Barkley a close second. Jackson topped vote-getters with 82,402 and Barkley was next, only 320 votes behind. Barkley was 4,079 votes back of Jackson in last week's first voting results. Eagles star Barkley, who set a team one-season rushing record on Sunday in a victory over Carolina, leaped ahead of Ravens rusher Derrick Henry, who fell to third on 76,582. Buffalo Bills quarterback Josh Allen was fourth on 73,627 with Detroit Lions rusher Jahmyr Gibbs fifth on 73,617. The Lions garnered the most votes from NFL fans overall followed by Baltimore, two-time defending Super Bowl champion Kansas City, Philadelphia and Minnesota. The NFL's all-star event will be staged February 2 in Orlando, Florida, for the second consecutive year as 88 players take part in skills competitions, including a flag football showdown with former NFL star quarterbacks Peyton and Eli Manning serving as coaches. Fan voting concludes on December 23. No other voting totals were revealed but top vote-getters at their position in the AFC and NFC also were revealed, including NFC rookie quarterback Jayden Daniels of Washington and wide receivers Justin Jefferson of Minnesota in the NFC and Ja'Marr Chase of Cincinnati in the AFC. js/bb

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